In June 1997, TIME magazine ran a cover story about Generation X – “Great Expectations of So-Called Slackers” where they attempted to enlighten Boomers and Matures about the benefits of Xers in the workplace and the world in general. The discussions that piece sparked with clients, colleagues and peers were the impetus for what is now Generational Insights. This week the folks at TIME are at it again with their cover story “The Me Me Me Generation” and its companion piece “Millennials: The Next Greatest Generation.” On the one hand, this feels a little like seeing dock siders and day-glow… Read More
Categories: GenerationsMillennials are reshaping the workplace with their numbers and their values. A recent Time analysis of recent studies of the Millennial workforce provides a glimpse of the ways that it will change the way we work. For starters, the world’s workforce will be majority-Millennial in just a few years. As soon as next year, the majority of employees at companies such as Ernst and Young will be members of the Millennial generation. And according to one estimate, by 2025, three quarters of the world’s workforce will be Millennials. Along with their numbers, Millennials are bringing their values with them to… Read More
Categories: Generations, WorkplaceMillennial optimism is tempered by anxiety in new life stage known as “emerging adulthood.” Millennials feel as though they should be launching independent adult lives but haven’t been able to set sail. A Clark University survey finds many of them feeling anxiety (56%), uncertainty (65%), and depression (33%). Though 18-29 years old, most feel adulthood lay ahead of them and that it must surely be better than the intermediate stage they’re in (60%). There’s still more than a glimmer of optimism as 82% say it “still seems like anything is possible.” Millennials are riding out this tough stage by remaining… Read More
Categories: Generations, Recession EconomyThe Baby Boomers are the generation with the optimistic and “forever young” attitudes. Perhaps that’s why they don’t feel so bad about getting old, according to a survey conducted by the National Council on Aging. More than 75% of Boomers and Matures over 60 surveyed are optimistic that the best is still yet to come and expect to maintain or improve their quality of life over the next decade. Senior Boomers do worry about money. About half of those surveyed are concerned about covering their bills in the future. And about a third are worried about paying for long-term care… Read More
Categories: Baby Boomers, Recession EconomyJust when Generation X is reaching its peak career and earning years, they are finding that the Baby Boomers won’t get out of their way. Many Boomers are delaying retirement due to the recession or simply because they prefer to work. In fact, the participation rate in the labor force among those over 55 is as high as it’s ever been. Xers, contrary to their reputation as slackers, are highly educated, career-oriented, and ambitious, but their path to the top is not clear. In a recent survey, 40% of them say they are not satisfied with their career progress and… Read More
Categories: Baby Boomers, WorkMillennials, already prone to delay milestones like careers and marriage, are putting them off even further as pessimism about their economic outlook causes them to downsize their expectations. A recent Los Angeles Times analysis of recent surveys depicts a “Generation Vexed” who, in their words, now plan to “take smaller steps” and who are resigned to the fact that “you can’t reach for the stars right now.” For the first time in three decades, Gallup shows that fewer than half of Americans believe the next generation will have a better life. As a result, according to a Generation Opportunity poll, nearly three… Read More
Categories: Training IndustryMillennials were first known as the “Echo Boom” because they were an echo of the Baby Boomers. As Boomers reached child-bearing age, their fertility rates (births per woman) were not particularly high, but the sheer size of the Boomer generation ensured that their offspring, the Millennials, would echo the population boom of their parents. Now that Millennials are reaching child-bearing age, fertility rates are shrinking even further. A recent Advertising Age analysis of census data shows that birthrates for women in their 20s declined more in the last two years than any time in the last three decades. In fact, the only… Read More
Categories: Baby Boomers, Training Industry, WomenMany Baby Boomers, even wealthy ones, have no intention of leaving an inheritance. Instead, they plan to use their fortunes on themselves. A new study by U.S. Trust shows that less than half of wealthy Boomers surveyed plan to leave an inheritance. About the same number have not even told their children what they are worth. This marks a sharp departure from attitudes among previous generations and comes as a shock to the financial planning industry. The results left the president of U.S. Trust sounding a little like a Millennial: “We were, like, ‘wow,’” said Keith Banks. Some Boomers surveyed… Read More
Categories: Baby Boomers, Work